Taxpayer Compliance Improvement Act of 1982

[AI summary unavailable — showing source text] Taxpayer Compliance Improvement Act of 1982 - Title I: Administrative Provisions - Amends the Internal Revenue Code to require the filing of informational returns for interest (including discount on original issue) on United States and corporate bearer obligations, beginning in 1983. Directs the Secretary of the Treasury to prescribe regulations with respect to reporting requirements for commodities and securities brokers. Requires the States to provide information to the Internal Revenue Service (IRS) concerning refunds of State income tax over $10 paid to any individual, beginning in 1983. Requires all employers of more than five employees to report charged tips paid to employees to the IRS. Authorizes the Secretary to require the filing of tax returns in a form capable of being processed by equipment utilized by the IRS. Requires the semiannual compounding of interest payable under the Internal Revenue Code. Requires the semiannual determination of the interest rate on overpayments of tax. Places restrictions on the payment of interest on overpayments of tax if the tax return is filed late, the return is not in processable form, or if the overpayment results from a net operating…